Your personal injury compensation can be significantly more than the amount of your medical bills. Factors such as pain and suffering, legal representation, and other choices made can significantly impact the compensation you receive.

Let’s explore seven key factors influencing the size of your compensation and the need for an experienced Florida real estate attorney to assist you in obtaining that compensation.

1. Initiating a Claim

The decision to file a claim is the first step in the process of receiving just compensation.. To do this, you will need to understand your rights and not succumb to myths or assumptions that can stand in the way of you making yourself whole financially after suffering injuries in an accident. The most common myths that stop people from initiating a legal claim after an accident are:

a) They believe that they cannot afford a lawyer

Many people mistakenly believe that legal representation by a personal injury doctor costs money upfront. This is understandable since the need for an accident attorney comes at a time of financial stress and hardship. However, at South Florida law we do not charge our clients a dime for personal injury representation unless we win their case. This means that if you would be able to pay our fees with your personal injury compensation. If you do not win, then there will be no fees for you to pay.

b) They believe that they can afford the financial impact of the accident

Sometimes, people do not sue for damages because they underestimate the cost of the injuries that they sustained and assume that they can afford these costs. However, deductibles and copays, missed days of work and additional costs for child care and physical therapy may cost more and last for longer than expected. What’s more, a just personal injury award often includes a considerable sum of money for non-financial hardships such as pain and suffering. By not taking legal action when you have the right to do so, you could be leaving many thousands, hundreds of thousands or even millions of dollars on the table.

c) They do not believe that the person who caused the accident can afford to pay for the damages

It is common for accident victims to make the assumption that the person or business that caused the accident does not have the money to pay for a large personal injury award. However, most cases involve legal action taken against large insurance companies with deep pockets. These insurance companies often have a legal responsibility to pay for damages and injuries caused by their clients. Therefore, by not taking legal action you may be missing an opportunity to be made whole financially by a large institution that has a legal obligation to pay you.

d) They do not believe they can win against a large, well-funded insurance company

On some occasions, people may think that they don’t stand a chance of winning against a multinational insurance company with all the resources to take on a long legal fight. However, with lawyers from South Florida Law, you benefit from both large firm resources and boutique firm attention to detail — a formidable combination that has put many insurance companies on their back foot. Insurance company tactics like denying claims, delaying compensation and low balling early settlement offers are well-known by South Florida Law attorneys. If we take on your case, we will fight these and other bad faith tactics with a view to getting you the just compensation you deserve.

2. Hiring Legal Representation

Research indicates that having legal representation greatly influences the compensation you can receive from personal injury. Those with attorneys receive payouts that are statistically 452% more than those without. This translates to substantial advantages for those who choose to hire a personal injury lawyer.

3. Injuries Sustained

The nature and extent of injuries directly impact compensation. Medical costs, along with factors like pain and suffering, can lead to compensation surpassing hospital bills, especially for injuries exceeding $10,000.

“Those with attorneys receive [personal injury] payouts that are statistically 452% more than those without.”

4. Work or Study Impact

Injuries affecting the claimant’s ability to work in high-paying jobs or pursue advanced degrees may warrant compensation for lost opportunities.

5. Insurance Limits

Insurance companies play a crucial role, covering negligent parties. However, these companies have limits, and claims cannot exceed the agreed maximum limit of the policy.

6. Negotiation Strategies

Rejecting the first settlement offer is often advisable. Those who insist on higher settlements statistically receive agreements averaging $44,000, compared to around $11,000 for those accepting the initial offer.

7. Threatening Court Action

The possibility of court involvement significantly impacts payouts. Parties threatening court action at the right time in negotiations result in payouts twice the size compared to those who do not consider legal recourse.

South Florida Law

In a complex legal landscape, personal injury cases involve experienced insurance companies and their legal teams. It’s proven that having an expert personal injury lawyer greatly increases the likelihood of a larger payout and helps avoid pitfalls set by bad faith insurance companies. If you or a loved one has been in an accident, contact South Florida Law today for a free consultation at (954) 900-8885 or through our contact form.